Daily Market Review 30.06.2015

STOCKS 

General Motors No Longer NFL Sponsor: On Monday, it was announced that General Motors Co. (GM, +0.15%) has been replaced by Hyundai Motor Co. (005380, +1.12%) as an official sponsor of the National Football League (NFL). This means that the Korean car maker now has access to some of the most viewed sports events in the U.S. which include the NFL playoffs as well as the Super Bowl. Hyundai has not revealed how much they paid for this 4-year deal with NFL. In a statement issued on Monday, Hyundai commented that the company would now use the NFL trademarks across a variety of marketing channels. This would also include promotional materials, advertising and branded content. NFL currently has a fan base of 188 million people and the car maker will also ensure that they provide promotional cars for all major events throughout the year, including the Super Bowl. Meanwhile, General Motors also released a statement confirming that they had decided not to renew their NFL sponsorship and that their focus would now be directed on using these sponsorship resources in other areas. Added to this, the General Motors brand does currently have 7-year shirt sponsorship deal with Manchester United, the English soccer team, while the company also sponsors the Major League Baseball since 2005. General Motors is currently trading at $33.22 a share.

 

INDICES

On Monday, U.S. stocks ended lower with the S&P 500 index (SPX) suffering its worst one-day drop so far this year. This came in response to the unsuccessful debt negotiations in Greece which has now placed the country on the brink of fiscal collapse. Over the weekend, the negotiations between Greece and its creditors collapsed again and as a result, the Prime Minister of Greece, Alexis Tsipras, called for a referendum on whether to accept reform measures demanded by the country’s lenders. This referendum will now take place on the 5th of July. As a result, the SPX declined 2.1%, or 43.85 points, to 2,057.64. The benchmark index has now turned negative for the year and it has also fallen below a key technical support level. Analysts have suggested that we can expect to see further declines. Meanwhile, the Dow Jones Industrial Average (DJIA) also saw its largest 1-day drop in more than 2 years when the blue chip index declined 2%, or 350.33 points, to 17,596.35. Following the downward trend was the Nasdaq Composite index (COMP) which also declined 2.4%, or 122.42 points, to 4,958.47.

CURRENCIES 

In currency trading on Monday, the U.S. dollar (USD) pared gains against other currencies. This came despite the fact that data showed that in the month of May, pending home sales rose to their highest level since 2006. Meanwhile, concerns regarding the Greece debt crisis seemed to ease. According to the National Association of Realtors, in May, their pending home sales index increased by 0.9 percent. This missed expectations for an increase of 1.2% while pending home sales in April rose by 2.7 percent. The EUR/USD traded at 1.1149, down 0.13% while the GBP/USD traded at 1.5726, down 0.15 percent. Against the currencies in Canada, Switzerland and Japan, the greenback traded mixed with USD/CAD up 0.67% at 1.2404, with USD/CHF down 0.43% at 0.9288 and with USD/JPY down 0.80% and trading at 122.85. Also, the U.S. dollar index held steady at 95.60.

COMMODITIES 

On Tuesday, crude oil prices declined in early Asian trade. This came as investors shifted their focus to the U.S. stockpiles report due out later today which will provide more insight into the supply and demand of the commodity. WTI crude oil for delivery in August traded at $58.26 a barrel, down 0.13 percent, on the NYMEX. Meanwhile, on Monday, Brent crude oil for delivery in August traded at $61.98 a barrel, down 2.02%, or $1.28, on the Intercontinental Exchange (ICE) in London. Today, the API (American Petroleum Institute) will release its survey of stockpiles from the end of last week on crude and refined products stocks in the U.S.

The Daily Market Review brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Forex Pivot Points & Technical Analysis 29.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1200$ with targets at 1.1275$ next 1.1420$ in extension.

Alternatively, Short positions below the daily pivot point 1.1200$ with targets at 1.1060$ next 1.0985 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1050, 1.1150, 1.1285, 1.1350, 1.1470, 1.1500

Support: 1.1005, 1.0950, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5710$ with targets at 1.5750$ next 1.5810$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5710$ with targets at 1.5655$ next 1.5615$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5815, 1.5930, 1.6000 , 1.6185

Support: 1.5660, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9255 with targets at 0.9360 next 0.9405 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9370 with targets at 0.9285 next 0.9255 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9415, 0.9545, 0.9600, 0.9720

Support: 0.9280, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.65 with targets at 124.05 next 124.40 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.65 with targets at 123.30 next 122.85 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2330 with targets at 1.2370 next 1.2435 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2330 with targets at 1.2260 next 1.2220 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2425, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2320, 1.2250, 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7670 with targets at 0.7710 next 0.7775 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7670 with targets at 0.7605 next 0.7565 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7670, 0.7770,  0.7850, 0.7860, 0.8030

Support: 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6845 with targets at 0.6875 next 0.6925 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6845 with targets at 0.6795 next 0.6765 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6925, 0.6940, 0.7025, 0.7075, 0.7205, 0.7280

Support: 0.6810, 0.6770, 0.6685

The Daily Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 26.06.2015

STOCKS 

Nike Sales and Profit Rise: On Thursday, after the close of trading, Nike Inc. reported that its sales rose 4.8 percent during the quarter ended in May. Added to this, the athletic-gear maker also recorded growth in revenue across most of its markets worldwide. However, as a result of the stronger U.S. dollar (USD), future orders and revenue growth were negatively impacted. After the release of the earnings results which beat expectations, the shares of Nike traded at $107.95, up 2.6 percent. For the period ended May 31, Nike’s revenue increased from $7.43 billion a year earlier to $7.78 billion, while sales improved 13 percent, excluding the impact of a stronger greenback. According to analysts polled by Thomson Reuters, there were expectations that Nike’s revenue would increase to $7.69 billion, up 4 percent. Nike derives most of its income from footwear as well as North America yet more than half of its sales are derived from around the world and with foreign exchange pressures as well as economic pressures globally, this could impact the company’s revenue and margins in the long run. Overall, Nike reported a profit of 98 cents a share, or $865 million, which is up from a year ago at 78 cents a share, or $698 million. Analysts were expecting the company to report profit per share of 83 cents. Meanwhile, gross margin rose from 45.6% to 46.2% as a result of an increase in the company’s higher margin direct to consumer business as well as higher prices. In the latest period, Nike also used expensive sponsorships in order to increase its market share in sports such as basketball and soccer.

INDICES 

On Thursday, U.S. stocks ended the volatile trading session lower. Losses were led by energy and industrials companies which weighed on broader indexes which declined for the 2nd straight session. Added to this, the chief investment officer at Tower Bridge Advisors, James M. Meyer, stated that a weakness in transportation stocks is also weighing on markets. The Dow Transportation index (DJT) declined to 8,239.58, down 0.9% and this index is now down more than 10 percent from its peak that it reached on the 28th of November last year. The transport index is important as it is often considered to be a barometer of the health of the overall economy. At the close of trading, the Dow Jones Industrial Average (DJIA) declined 0.4%, or 75.37 points, to 17,890.360. Also on the downside was the Nasdaq Composite index (COMP) which dropped 0.2%, or 10.22 points, to 5,112.19 while the S&P 500 index (SPX) declined 0.3%, or 6.27 points, to 2,102.31.

CURRENCIES 

In forex trading on Thursday, the U.S. dollar pared gains in quiet trading. This came after positive economic reports out of the U.S. while investors continued to monitor the ongoing negotiations around the Greek debt crisis. According to a report by the Commerce Department, in May, personal spending rose by 0.9%. This beat expectations for a gain of 0.7 percent while personal spending in April rose by only 0.1%. Added to this, the report also showed that in May, personal income rose by 0.5% which was in line with forecasts. Meanwhile, in a separate report, the U.S. Department of Labor said that the number of people filing for jobless benefits for the first time in the week ending on the 20th of June, increased to 271,000, up 3,000. The previous week’s total was at 268,000. The EUR/USD traded steady at 1.1200 while the GBP/USD traded at 1.5744, up 0.24%. Against the Japanese yen and the Canadian dollar, the greenback traded lower with USD/JPY down 0.21% at 123.58 and with USD/CAD down 0.31% and trading at 1.2347. Also, the U.S. dollar index was steady at 95.39.

COMMODITIES 

On Friday, crude oil prices declined in early Asian trade. This comes as investors focus on the oil rig count by Baker Hughes expected today, which is a key gauge of production intentions in the U.S. as well as the scope for demand while the economy shows clear signs of growth. Expectations are that the oil services firm could report a draw in oil rigs for the 29th consecutive week, after reporting last week that the oil rigs in the U.S. declined by 4 to 631 for the week ending on the 19th of June. Meanwhile, WTI crude for delivery in August traded at $59.64 a barrel, down 0.09% on the NYMEX. On Thursday, Brent crude oil for delivery in August traded at $63.25 a barrel, down 0.38%, or $0.24, on the Intercontinental Exchange (ICE) in London.

The Daily Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Forex Pivot Points & Technical Analysis 25.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1230$ with targets at 1.1320$ next 1.1440$ in extension.

Alternatively, Short positions below the daily pivot point 1.1230$ with targets at 1.1110$ next 1.1020 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1350, 1.1470, 1.1500, 1.1680

Support: 1.1150, 1.1130, 1.1030, 1.1005, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5725$ with targets at 1.5780$ next 1.5860$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5725$ with targets at 1.5645$ next 1.5585$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5800, 1.5930, 1.6000 , 1.6185

Support: 1.5660, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9310 with targets at 0.9410 next 0.9490 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9310 with targets at 0.9235 next 0.9135 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9280, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.95 with targets at 124.25 next 124.65 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.95 with targets at 123.60 next 123.30 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2360 with targets at 1.2445 next 1.2510 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2360 with targets at 1.2300 next 1.2215 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2425, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2320, 1.2250, 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7695 with targets at 0.7710 next 0.7715 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7695 with targets at 0.7695 next 0.7680 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance:0.7770,  0.7850, 0.7860, 0.8030, 0.8165

Support: 0.7670, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6880 with targets at 0.6915 next 0.6940 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6880 with targets at 0.6855 next 0.6825 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6940, 0.7025, 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420

Support: 0.6810, 0.6770, 0.6685

The Daily Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 24.06.2015

STOCKS 

The Confederate Flag Must Go Says Wal-Mart & Amazon: On Tuesday, eBay joined Wal-Mart, Sears and Amazon in the decision to stop selling Confederate flag merchandise. All four companies announced that they would ban the sale of any Confederate flag merchandise as a result of the national debate regarding the use of this controversial flag. The flag has always been a symbol of the slave-holding South and as a result of the shooting which took place last week in an African-American church in Charleston, South Carolina, these retailers have decided to take action. Charged in the killing is Dylan Roof, who was pictured with images of a Confederate flag. Added to this Governor Nikki Haley also announced on Monday that she supports the removal of the Confederate flag from the state capitol grounds. In a statement, Brian Nick, the Wal-Mart spokesman said that the company had no intention of offending anyone by the products they offer and as a result, Wal-Mart will no longer promote the confederate flag on their website or in their stores. Meanwhile, on Tuesday afternoon, an Amazon spokesperson told CNN that they would also remove Confederate flag merchandise stating that the flag had “become a contemporary symbol of divisiveness and racism." All items that contain the flag’s image will also be banned. eBay and Sears have also followed suit and removed all relevant items from their product offerings.

 

INDICES 

On Tuesday, U.S. stocks ended the volatile trading session slightly higher. Despite the small advances, these gains were enough to put the Nasdaq Composite index (COMP) and the Russell 2000 at record closing levels. These gains were prompted by rallies in global equity markets which came about as a result of optimism regarding a possible solution to Greece’s debt crisis. At the close of trading, the Nasdaq Composite gained 0.1 percent, or 6.12 points, to 5,160.09. This marked a record close for the tech heavy index for the 2nd consecutive session. Also, the Russell 2000 index gained 0.3%, or 3.37 points, to close at an all-time high of 1,295.76. Meanwhile, the Dow Jones Industrial Average (DJIA) also gained 0.1%, or 24.76 points, to close at 18,144.54 while the S&P 500 index (SPX) advanced 0.1%, or 1.41 points, to settle at 2,124.27.

CURRENCIES 

In forex trading on Tuesday, the U.S. dollar traded higher. This advance came despite the release of mixed economic reports out of the U.S. while the outcome of Greek debt talks continued to weigh on market sentiment. According to the Commerce Department, for the month of May, new home sales jumped to 546,000 units, up 2.2 percent. This marked the highest level since February 2008 while also beating expectations for an increase to 525,000, up 1.5 percent. Meanwhile, in a separate report, data showed that the total durable goods orders in the U.S., which include transportation items, dropped in May by 1.8%. This missed expectations for an increase of 0.6 percent. The EUR/USD traded at 1.1192, down 1.31% which marked a two-week low while the GBP/USD traded at 1.5742, down 0.52%. Against the currencies in Japan and Canada, the greenback traded higher with USD/JPY up 0.35% to 123.81 and with USD/CAD also up 0.07% and trading at 1.2318. Also, the U.S. dollar index was at 95.48, up 1.02%.

COMMODITIES 

On Wednesday, crude oil prices gained in early Asian trade. This came after the API (American Petroleum Institute) reported that for last week, crude oil supplies declined by 3.2 million barrels, which was a much bigger drop than the previous week when the API reported a decline by 2.9 million barrels. This was prompted by the summer driving season when U.S. refiners step up output. WTI crude oil for delivery in August traded at $61.05 a barrel, up 1.13%, or $0.68, on the NYMEX. This marked the 2nd consecutive session that the contract rallied more than 1 percent. Meanwhile on Tuesday, Brent crude oil for delivery in August traded at $64.40 a barrel, up $1.16, on the Intercontinental Exchange (ICE) in London.

Forex Pivot Points & Technical Analysis 23.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1355$ with targets at 1.1400$ next 1.1455$ in extension.

Alternatively, Short positions below the daily pivot point 1.1355$ with targets at 1.1300$ next 1.1255 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1350, 1.1470, 1.1500, 1.1680

Support: 1.1150, 1.1130, 1.1030, 1.1005, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5845$ with targets at 1.5890$ next 1.5955$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5845$ with targets at 1.5780$ next 1.5740$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5930, 1.6000 , 1.6185

Support: 1.5700, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9200 with targets at 0.9245 next 0.9270 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9200 with targets at 0.9175 next 0.9140 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9300, 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.15 with targets at 123.70 next 124.00 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.15 with targets at 122.85 next 122.25 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2285 with targets at 1.2355 next 1.2400 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2285 with targets at 1.2245 next 1.2175 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2365, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7760 with targets at 0.7815 next 0.7905 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7760 with targets at 0.7675 next 0.7620 in extension.

AUDUSD - Daily Chart Support and Re​sistance levels

Resistance: 0.7850, 0.7860, 0.8030, 0.8165

Support: 0.7715, 0.7670, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6915 with targets at 0.6965 next 0.7065 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6915 with targets at 0.6815 next 0.6760 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6940, 0.7025, 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420

Support: 0.6830, 0.6810 , 0.6770

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

The Daily Analysis brought to you by Billionaire Forez UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 22.06.2015

STOCKS 

Will Adidas Bounce Back: Since last year, it has been evident that Adidas (ADS) has struggled to hold on to its share of the sportswear market. This has come as a result of strong competition with the German company sending out profit warnings already last year. As a result, investors at the time started to lose faith and we saw a decline in the company’s share price. Things are turning around and since the beginning of 2015, Adidas stocks have recovered almost 40 percent of its loss from 2014. These gains have come about as a result of a market upswing in Europe while Adidas has worked hard to reposition its business. Despite these gains, Adidas is still trading 10% below their level a year ago. According to Kevin Kelly, chief investment officer of New York-based Recon Capital Partners, Adidas can be viewed as a great turnaround story with investors seeing great value in the company. For example, Southeastern Asset Management owns approximately 3 percent of the company. Added to this, Adidas, which is the second largest sportswear maker in the world after Nike (NKE), hired Perella Weinberg Partners in order to watch for hostile activity. In March this year, the company also shifted its focus to its U.S. presence after its market share in North America declined from 18% to 7 percent over the last 9 years. Also, with new startups coming into the market such as Under Armour (UA), which is now sitting in 2nd place in the U.S. market, Adidas has had to work aggressively to face this competition. Analysts are mixed regarding Adidas’s ability to make market share gains. On Friday, Adidas traded at €68.85 a share, down 1.8 percent on the week.

INDICES 

On Friday, U.S. stocks declined. This came in response to the Greek crisis which prompted investors to remain cautious heading into the weekend. According to analysts, this decline and late session selloff can also be attributed to something which is referred to as a ‘quadruple-witching day’ which occurs when stock indexes and options and futures for stocks expire simultaneously. At the close of trading, the S&P 500 index (SPX) dropped 0.5%, or 11.25 points, to 2,109.99. For the week, this main benchmark recorded a 0.8% gain. Also, the Nasdaq Composite index (COMP) declined 0.3%, or 15.95 points, to 5,117.00. This tech heavy index retreated from its record high reached on Thursday and also gained 1.3% over the week. Meanwhile, the Dow Jones Industrial Average (DJIA) also dropped 0.6%, or 101.56 points, to 18,014.28. For the week, the blue chip index posted a gain of 0.6 percent.

CURRENCIES 

In forex trading on Friday, the U.S. dollar trimmed gains in quiet trade. This came as investors took the time to digest the policy statement by the Federal Reserve on Wednesday while the Greece debt crisis continued to weigh on market sentiment. The EUR/USD traded at 1.1344, down 0.17% while the GBP/USD traded steady at 1.5888. Also, the New Zealand and Canadian dollars traded mixed against the greenback with NZD/USD down 0.36% to 0.6899 and with USD/CAD up 0.53% and trading at 1.2286. The USD/CHF held steady at 0.9219 while the USD/JPY traded at 122.64, down 0.25%. Also, the U.S. dollar index was at 94.35, up 0.15 percent.

COMMODITIES

On Monday, crude oil prices declined in early Asian trade. This came after a meeting took place over the weekend where proposals were swapped and it now seems that a deal appears possible on Greece's debt bailout package. On Monday, the European leaders will hold an emergency meeting in Brussels regarding the bailout agreement on Greece which is due to expire at the end of June. Also, the markets in China are closed today as a result of the Dragon Boat Festival holiday. WTI crude oil for delivery in August traded at $59.80 a barrel, down 0.28 percent, on the NYMEX. Meanwhile, Brent crude oil for delivery in August traded at $63.02 a barrel, on Friday, down 1.93%, or $1.24, on the ICE Futures Exchange in London. For the week, London-traded Brent futures lost 2.51 percent or $1.35.

The Daily Market Review brought to you by senior analysts at Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Forex Pivot Points & Technical Analysis 19.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1380$ with targets at 1.1425$ next 1.1480$ in extension.

Alternatively, Short positions below the daily pivot point 1.1380$ with targets at 1.1325$ next 1.1280 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1470, 1.1500, 1.1680

Support: 1.1280, 1.1150, 1.1130, 1.1030, 1.1005, 1.0885

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5870$ with targets at 1.5935$ next 1.5995$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5870$ with targets at 1.5815$ next 1.5745$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5825, 1.5945, 1.5995 , 1.6185

Support: 1.5815, 1.5700, 1.5550, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9205 with targets at 0.9255 next 0.9300 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9205 with targets at 0.9160 next 0.9110 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9275, 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.00 with targets at 123.60 next 124.20 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.00 with targets at 122.40 next 121.85 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80, 126.30

Support: 122.40, 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2200 with targets at 1.2275 next 1.2325 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2200 with targets at 1.2150 next 1.2075 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2365, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2150, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7785 with targets at 0.7855 next 0.7925 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7785 with targets at 0.7715 next 0.7645 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7850, 0.7860, 0.8030, 0.8165

Support: 0.7715, 0.7670, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6930 with targets at 0.7000 next 0.7080 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6930 with targets at 0.6845 next 0.6775 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6940, 0.7025, 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420

Support: 0.6850, 0.6810 , 0.6770

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

The Daily Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 18.06.2015

STOCKS

On Wednesday, TripAdvisor (TRIP, +13.55%) and Marriott International, Inc. (MAR, +0.24%) announced that they are expanding their partnership. The global hotel portfolio of the Marriott has now been added to the Instant Booking Platform of TripAdvisor which means that from this summer, clients will be able to search for and to book one of the Marriott’s 4,200 hotels worldwide from the comfort of the TripAdvisor site. This strategic partnership will also enable TripAdvisor clients to familiarize themselves with the 19 leading brands that make up the Marriott's portfolio. CEO and President of Marriott International, Arne Sorenson, stated that the partnership is a clear indication of the similarities in the growth strategy of both the companies within the travel industry. Added to this, Shafiq Khan, senior vice president, channel strategy and distribution of Marriott International, Inc. commented that the partnership enables clients to book Marriott hotels with ease and convenience while those clients who book via TripAdvisor, will also be eligible for Marriott Rewards and Ritz-Carlton Rewards points. To make a booking, one simply needs to access the TripAdvisor Instant Booking platform and click on the ‘"Book on TripAdvisor" button. Throughout the booking process, clients are reminded that the service is powered by Marriott while contact details of each hotel are also provided. Added to this, all queries will be handled directly by Marriott representatives. In 2014, Marriott International reported revenues of nearly $14 billion while the shares of TripAdvisor, the world’s largest travel site, are currently trading at $87.65 a share.

INDICES 

In U.S. trading on Wednesday, U.S. stocks ended with modest gains after a volatile trading session. This came after the Chairwoman of the Federal Reserve, Janet Yellen, announced that key interest rates will remain unchanged while she also emphasized the fact that the Fed would watch economic data for cues regarding the timing of interest rate hikes. Yellen also made it clear that the timing of the rates hike is far less important than the pace as well as the trajectory. At the close of trading, the Dow Jones Industrial Average (DJIA) gained 0.2%, or 31.26 points, to 17,935.74 while the S&P 500 index (SPX) advanced 0.2%, or 4.15 points, to 2,100.44. Following the upward trend was the Nasdaq Composite index (COMP) which rose 0.2%, or 9.33 points, to 5,064.88.

CURRENCIES 

In forex trading on Wednesday, the U.S. dollar (USD) traded higher. This came as investors shifted their attention to the monthly policy statement by the Federal Reserve to assess the timing regarding interest rate hikes. The EUR/USD traded at 1.1228, down 0.15%. This came after the single currency hit a high of 1.1292 during the trading day. Also, the GBP/USD traded at a 1-month high of 1.5701, up 0.34%. This came after data showed that the average weekly earnings in the U.K., which excludes bonuses, rose on a year over year basis by 2.7 percent in the 3 months to April. Meanwhile, against the Swiss franc and the Canadian dollar, the USD traded mixed with USD/CHF trading at 0.9305, down 0.17% while the USD/CAD traded at 1.2313, up 0.16%. Also, the U.S. dollar index was at 95.34, up 0.13 percent.

COMMODITIES 

On Thursday, crude oil prices declined in early Asian trade. Investors have now shifted their attention to the data on the rig count in the U.S. in order to get a clearer indication regarding production in the U.S. compared to the global demand. WTI crude oil for August delivery traded at $60.12 a barrel, down 0.35%, on the NYMEX. On Wednesday, crude futures traded mixed as a result of the decision by the Federal Reserve to maintain the current short term interest rates. Meanwhile, on Wednesday, Brent crude oil for delivery in August traded at $63.84 a barrel, up 0.24%, or $0.15, on the Intercontinental Exchange (ICE) in London.

Forex Pivot Points & Technical Analysis 16.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1235$ with targets at 1.1320$ next 1.1380$ in extension.

Alternatively, Short positions below the daily pivot point 1.1235$ with targets at 1.1175$ next 1.1090$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1390, 1.1470, 1.1500, 1.1680

Support: 1.1150, 1.1130, 1.1030, 1.1005, 1.0885, 1.0820, 1.0715

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5535$ with targets at 1.5605$ next 1.5670$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5535$ with targets at 1.5470$ next 1.5400$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5615, 1.5700, 1.5825, 1.5945, 1.5995

Support: 1.5440, 1.5160, 1.5080, 1.5055, 1.4990, 1.4950, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9300 with targets at 0.9365 next 0.9455 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9300 with targets at 0.9210 next 0.9145 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.45 with targets at 124.40 next 125.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.45 with targets at 122.25 next 121.25 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 123.75, 124.00, 125.05, 125.80, 126.30

Support: 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2305 with targets at 1.2350 next 1.2400 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2305 with targets at 1.2255 next 1.2215 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2365, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2200, 1.2160, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7720 with targets at 0.7760 next 0.7800 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7720 with targets at 0.7680 next 0.7635 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7795, 0.7820, 0.7845, 0.7860, 0.8030, 0.8165

Support: 0.7670, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7010 with targets at 0.7065 next 0.7105 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7010 with targets at 0.6965 next 0.6915 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7025, 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420

Support: 0.6945, 0.6810 , 0.6770

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

Daily Market Review 15.06.2015

STOCKS

Over the last decade, General Motors Co. (GM, +0.45%) abandoned producing medium duty work trucks in the U.S. Now, the auto giant is ready to re-enter this growing, as well as potentially lucrative, U.S. market. Teaming up with Isuzu Motors Ltd. in Japan, GM will procure work trucks which will then be sold under the Chevrolet brand in the U.S. Isuzu and GM have worked together for many years. Isuzu, which is the number one auto maker in terms of sales in the U.S., will then rely on GM to reclaim its market share by selling these medium trucks through its dealer network and its reputation. In 2015, the medium-duty market has grown 3.5 percent. According to the dealers, the N-series truck, which is built by Isuzu, will now be rebranded as Chevrolet. On Monday, this partnership will be unveiled and analysts are expecting this announcement to be well-received especially in a country where stronger economic conditions are evident. GM already works quite closely with other companies in order to share the costs of new product developments. For example, the auto giant also purchases Nissan Motor Co. work vans and rebrands them as Chevrolet for the U.S. While the partnership between GM and Isuzu is only a small step, it represents the company’s commitment to taking a bigger market share against rivals such as Daimler AG and Ford Motor Co. The hope is that some GM Chevrolet dealers will now get the opportunity to make additional money by selling, outfitting and servicing work trucks. GM stocks are currently trading at $35.71 a share.

INDICES

In U.S. trading on Friday, U.S. stocks closed lower giving up previous gains. This decline came in response to sharp selloffs in the European equity markets as a result of concerns regarding the future of debt-ridden Greece in the eurozone. At the close of trading, the Dow Jones Industrial Average (DJIA) declined 0.8%, or 140.53 points, to 17,898.84. For the week, the blue chip index gained 0.3 percent. Meanwhile, the S&P 500 index (SPX) closed 0.7%, or 14.75 points, lower at 2,094.11. The benchmark index finished the week flat. Also, the Nasdaq Composite index (COMP) declined 0.6%, or 31.41 points, to 5,051.10. For the week, the tech heavy index lost 0.3 percent. Also on Friday, losses were evident in Europe and the Stoxx Europe 600 (SXXP, -0.92%) declined 0.9% while the Athens Composite index (GD, -5.92%) also dropped 5.9 percent.

CURRENCIES

In forex trading on Friday, the U.S. dollar (USD) traded higher. This came despite the release of data which showed that producer prices in the U.S. rose slightly more than expected in May. According to the Department of Labor, the PPI (producer price index) rose 0.5 percent in the previous month. This was above expectations for an increase of 0.4% after a decline of 0.4% in April. Also, year on year, producer prices declined in May by 1.1 percent which was in line with expectations. In May, the core producer prices, which exclude energy and food, rose by 0.1%. The EUR/USD traded at 1.1232, down 0.26% and this decline was prompted after the IMF (International Monetary Fund) left Greece after a breakdown in talks. Also, the GBP/USD traded at 1.5504, down 0.09% while the USD/JPY traded at 123.68, up 0.20%. Against the Canadian dollar, the greenback traded 0.18% higher at 1.2315 while the U.S. dollar index was at 95.23, up 0.28%.

COMMODITIES

On Monday, crude oil prices declined in early Asian trade with the future of Greece the main focus among investors. WTI crude oil for delivery in July traded at $60.20 a barrel, down 0.32%, on the NYMEX. Meanwhile, on Friday last week, Brent crude oil for July delivery traded at $63.87 a barrel, down 1.9 percent, on the ICE Futures exchange. For the week, the contract rose 0.88 percent. On Thursday, in its monthly report, the IEA (International Energy Agency) stated that they expect the demand for oil to increase faster than that had previously forecast for 2015. This increase would be as a result of economic growth and lower prices and would increase by 1.4 million barrels a day this year. This is 300,000 barrels a day more than the IEA had previously forecast.

Forex Pivot Points & Technical Analysis 12.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1250$ with targets at 1.1325$ next 1.1405$ in extension.

Alternatively, Short positions below the daily pivot point 1.1250$ with targets at 1.1175$ next 1.1100$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1390, 1.1470, 1.1500, 1.1680

Support: 1.1180, 1.1130, 1.1030, 1.1005, 1.0885, 1.0820, 1.0715

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5470$ with targets at 1.5595$ next 1.5685$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5470$ with targets at 1.5385$ next 1.5250$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5555, 1.5700, 1.5825, 1.5945, 1.5995

Support: 1.5445, 1.5160, 1.5080, 1.5055, 1.4990, 1.4950, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9345 with targets at 0.9395 next 0.9460 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9345 with targets at 0.9285 next 0.9235 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9230, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.55 with targets at 124.65 next 125.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.55 with targets at 122.50 next 121.35 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 123.75, 124.00, 125.05, 125.80, 126.30

Support: 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2305 with targets at 1.2345 next 1.2395 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2305 with targets at 1.2250 next 1.2210 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2365, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2200, 1.2160, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7745 with targets at 0.7795 next 0.7850 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7745 with targets at 0.7695 next 0.7640 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7820, 0.7845, 0.7860, 0.8030, 0.8165

Support: 0.7680, 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7010 with targets at 0.7065 next 0.7105 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7010 with targets at 0.6965 next 0.6915 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7075, 0.7205, 0.7280, 0.7315, 0.7390, 0.7420, 0.7480

Support: 0.6970, 0.6945, 0.6810

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

Brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 11.06.2015

STOCKS 

Netflix Shares Surge on Possible Stock Split: According to reports, we could see Netflix Inc. (NFLX, +4.22%) headed for a stock split. During an investors meeting on Tuesday, shareholders approved a proposal to increase the maximum number of shares outstanding. This means that we could see Netflix’s authorized shares go from the current 170 million to five billion. According to a spokesman from the company, the final results will be filled in an 8K form on Thursday with the SEC (Securities and Exchange Commission). Reed Hastings, the Chief Executive of Netflix, explained that the decision to increase the number of shares was based on authorized capital which a few Silicon Valley companies have. As a result of the move for an increase in the number of shares, talk of a possible stock split has now emerged. A stock split normally occurs when a company’s stock is out pricing other stocks of companies within the same sector or when the share price of a company is too high for investors. On Wednesday, Netflix shares were trading at around $686 a share. This puts them as the 2nd highest stock on the S&P 500 index (SPX). According to a Netflix spokesman, Hastings is currently seeking the approval of the board for the stock split yet no information about this split has been provided. Added to this, Netflix also recently announced that they have entered into a deal valued at $30 million in order to distribute the movie ‘War Machine’ featuring Brad Pitt. This movie is set to debut in 2017 and it is based on the book ‘The Operators: The Wild and Terrifying inside Story of America’s War in Afghanistan’ by Michael Hastings.

INDICES 

In U.S. trading on Tuesday, U.S. stocks rallied. As a result, the main indices gained back some of the losses we have seen over the last 4 days of consecutive losses and as a result, these indices were on track to post the largest gain in one day in the month of June. According to Wall Street analysts, this rally was prompted by a combination of a strong U.S. dollar (USD) which as a result boosted commodity prices while optimism regarding Greece receiving additional bailout cash from creditors was evident among investors. At the close of trading, the Dow Jones Industrial Average (DJIA) advanced 1.4%, or 250 points, to 18,016. This benchmark index turned positive for the year. Also on the upside was the Nasdaq Composite index (COMP) which gained 1.3%, or 63 points, to 5,076 while the S&P 500 index (SPX) rose 1.2%, or about 25 points, to 2,105. Gains were led by financial and technology stocks which rose more than 1.5 percent each while energy shares also rallied as a result of gains in the oil prices.

CURRENCIES 

In forex trading on Wednesday, the U.S. dollar (USD) traded at a 3-week low. This came as investors continued to lock in profits from the greenback’s rally last week. Trade was quiet as a result of no economic data expected out of the U.S. The EUR/USD held steady and traded at 1.1283. The single currency rose to a high of 1.1385 during the session as a result of the continued selloff in European government bonds. Added to this, German 10-year bund yields rose to the highest levels which were last seen in September last year. In other currency news, the GBP/USD traded at 1.5519, up 0.88% while the USD/JPY traded at 122.78, down 1.27 percent. Against the New Zealand dollar and the Swiss franc, the U.S. dollar traded lower with the NZD/USD up 0.88% at 0.7193 and with USD/CHF down 0.16 percent at 0.9294. Meanwhile, the U.S. dollar index was at 94.81, down 0.37 percent.

COMMODITIES 

On Thursday, crude oil prices declined in early Asian trade. Investors took profits from an overnight rally in the U.S. which was a clear indication that efforts are being made to decrease the domestic output while demand is steadily climbing. WTI crude oil for July delivery traded at $61.09 a barrel, down 0.56% on the NYMEX. Also, Brent crude oil for delivery in July traded at $65.64 a barrel on Wednesday, up 1.16%, or $0.76 on the Intercontinental Exchange (ICE). , According to the weekly report by the EIA (Energy Information Administration), crude stockpiles declined last week by 6.8 million barrels to 470.6 million barrels. This beat analyst expectations for a rise of 1.8 million barrels which was bullish for the commodity.

Forex Pivot Points & Technical Analysis 10.06.2015

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.

EURUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1285$ with targets at 1.1355$ next 1.1415$ in extension.

Alternatively, Short positions below the daily pivot point 1.1285$ with targets at 1.1220$ next 1.1150$ in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1390, 1.1470, 1.1500, 1.1680

Support: 1.1290, 1.1210, 1.1030, 1.1005, 1.0885, 1.0820, 1.0715

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5345$ with targets at 1.5435$ next 1.5490$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5345$ with targets at 1.5295$ next 1.5205$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5445, 1.5700, 1.5825, 1.5945, 1.5995

Support: 1.5160, 1.5080, 1.5055, 1.4990, 1.4950, 1.4855

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9295 with targets at 0.9340 next 0.9380 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9295 with targets at 0.9255 next 0.9205 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9405, 0.9545, 0.9600, 0.9720

Support: 0.9240, 0.9150, 0.9070

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.30 with targets at 124.75 next 125.20 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.30 with targets at 123.90 next 123.45 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 124.00, 125.05, 125.80, 126.30

Support: 122.05, 121.90, 121.45

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2365 with targets at 1.2420 next 1.2500 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2365 with targets at 1.2285 next 1.2225 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2365, 1.2540, 1.2565, 1.2670, 1.2785

Support: 1.2305, 1.2205, 1.2160, 1.1950, 1.1900

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7685 with targets at 0.7725 next 0.7760 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7685 with targets at 0.7650 next 0.7610 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7715, 0.7820, 0.7845, 0.7860, 0.8030, 0.8165

Support: 0.7595, 0.7550, 0.7530

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7135 with targets at 0.7190 next 0.7230 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7135 with targets at 0.7095 next 0.7045 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7205, 0.7280, 0.7315, 0.7390, 0.7420, 0.7480, 0.7565

Support: 0.7070, 0.7025, 0.6970, 0.6945, 0.6810

The Daily Technical Analysis brought to you by Billionaire Forex UK in collaboration with STOCK. All rights reserved. 

Daily Market Review 09.06.2015

STOCKS

Wal-Mart Shares Rise on Upgrade: In early trading on Monday, the shares of Wal-Mart Stores Inc. (NYSE: WMT) rose 0.3 percent to trade at $73.28 a share. This increase came in response to a rating upgrade by analysts at Raymond James. The retail corporation was upgraded from ‘outperform’ to ‘strong buy’ during a valuation call which took place in the morning. Added to this, analysts also issued a price target of $86 stating that Wal-Mart currently offers investors more reward than risk. According to Raymond James, Wal-Mart will start to see returns on the investments it has made in its stores in the U.S. Wal-Mart currently operates through 3 business segments which include Wal-Mart International, Wal-Mart U.S. and Sam’s Club. Meanwhile, the team at TheStreet Ratings also rated Wal-Mart Stores Inc. as a ‘Buy’ with a rating score of ‘B’. This upgrade was based on the team’s forecast that the retail giant has a variety of strengths which can offer investors a good performance opportunity. These strengths include Wal-Mart’s largely solid financial position, reasonable debt levels as well as acceptable valuation levels. Wal-Mart is currently trading at $72.95 a share.

INDICES

In U.S. trading on Monday, stocks declined marking the 3rd consecutive session of declines for the main indices. It was evident that the markets felt the pressure of a selloff in European equity markets while investors also remained cautious after the strong jobs report which was released on Friday. This raised concerns that the Federal Reserve could increase interest rates as soon as October while the next Federal Open Committee Meeting (FOMC) is scheduled for the 16th and 17th of June. At the close of trading, the Dow Jones Industrial Average (DJIA) slipped 0.2%, or 32 points, to 17,816. Also, the S&P 500 index (SPX) declined 0.2%, or 4 points, or 0.2% to 2,088. Following the downward trend was the tech heavy Nasdaq Composite index (COMP) which dropped 0.3%, or 15 points, to 5,053.

CURRENCIES

In forex trading on Monday, the U.S. dollar (USD) traded lower. This came as investors locked in profits from the recent rally seen in the greenback as a result of the strong May jobs report released on Friday. After the Labor Department reported that the economy added 280,000 jobs in May, the USD rallied and it also boosted investor confidence that the economy could be on track for a rebound after a weak 1st quarter. The EUR/USD traded at 1.1212, up 0.86 percent while the USD/JPY traded at 125.23, down 0.38%. Also, the greenback traded steady against the British pound and the Canadian dollar with GBP/USD at 1.5269, and with the USD/CAD little changed at 1.2443. The U.S. dollar index was at 95.80, down 0.60 percent.

COMMODITIES

Crude oil prices gained in early trade in Asia on Tuesday. This came as investors noted the scope for China to ease their monetary policy further after weak price data was released while investors have also shifted their focus to the supply data which will be provided by the American Petroleum Institute (API) today. According to data released in China, consumer prices declined 0.2 percent in May while producer prices also dropped 4.6 percent. Added to this, the National Bureau of Statistics in China said that as a result of falling egg and vegetable prices, the CPI was dragged down by 0.39 percentage points. WTI crude oil for July delivery traded at $58.46 a barrel, up 0.54% on the NYMEX. Also, on Monday, Brent crude oil for July delivery traded at $62.62 a barrel, down 1.07% or $0.69 on the Intercontinental Exchange (ICE).